Dark Fleet Demolition Provides Unexpected Boost for India’s Struggling Shipbreaking Industry

The shipbreaking industry in India is witnessing a revival, thanks in large part to what’s being termed the "dark fleet" — a collection of aging vessels that have been banned from operating in various global waters but are still making their way to scrapyards. In recent months, this influx of decommissioned ships, primarily owned by companies that often operate outside of regulatory boundaries, has become a lifeline for local scrapyards, which have faced hardships in recent years due to declining demand and stringent environmental regulations.

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Shipping Industry Faces New Challenges as Profit Boom Fades Amid U.S. Tariffs and Red Sea Changes

The recent surge in profits for the global shipping sector is showing significant signs of evaporating, primarily due to the reintroduction of U.S. tariffs and the reopening of the Red Sea trade routes. This shift comes as companies grapple with changing market conditions that threaten to unravel the windfall gains seen during the pandemic years.

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